Sahara Energy Ltd. Announces Addition to Board of Directors, Appointment of Chief Financial Officer and President, and Appointme
05 January 2011 - 8:27AM
PR Newswire (Canada)
CALGARY, Jan. 4 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE U.S./ CALGARY, Jan. 4 /CNW/ -
Sahara Energy Ltd. (TSX VENTURE: SAH) ("Sahara" or the "Company")
is pleased to announce the appointment of Mr. Martin Feng as
President of the Company and Mr. Qiping Men, C.G.A. as Chief
Financial Officer ("CFO"), effective December 8, 2010. Mr. Feng has
extensive management experience with oil and gas companies and 25
years of oil and gas industry experience in a wide range of
positions, including geologist, drilling and completions engineer,
production manage, and field project manager. Mr. Feng obtained his
Bachelor's Degree of Petroleum Geology in 1986 from the Northeast
Petroleum University in China and his MBA in 1993 from the Harbin
University of Technology in China. Mr. Men is a well rounded
managerial accountant with over 20 years experience in a wide range
of industries and public accounting firms and nine years experience
as an engineering manager in a manufacturing company. He obtained
his Bachelor's Degree in Mechanical Engineering in 1986 from the
Harbin University of Science and Technology in China and his MBA in
2000 from Dalian University of Science and Technology in China. Mr.
Men obtained his Canadian CGA designation in 2007. Mr. Men has a
solid accounting experience in public accounting firms and has
provided accounting services to private and public oil and gas
companies and other businesses. Mr. Feng and Mr. Men, both Calgary
residents, are well-experienced in their respective fields to
assist Mr. Peter Boswell, Sahara's Chief Executive Officer and
recently appointed Chairman of the Board of Directors of Sahara, to
assist Sahara in pursuing its business plan. Mr. Men replaces Mr.
Doug James. Sahara would like to thank Mr. James for his work in
successfully steering the Company through its recent creditor
proposal. The appointment of Mr. Feng and Mr. Men remains subject
to the approval of the TSX Venture Exchange ("TSXV"). In addition,
Sahara is pleased to announce the appointment of Mr. Gary Chang to
the Board of Directors of Sahara. Mr. Chang holds an MBA from the
University of Southern California, is a CFA charter holder and a
member of the CFA Institute. Mr. Chang has over 10 years of
international experience in both the financial and petroleum
industries. Mr. Chang has worked with several securities firms and
investment companies in both North America and China including
Prudential Securities Inc. and Guotai Junan Securities Co., Ltd. In
2005 Mr. Chang was hired by Great United Petroleum Holding Co.,
Ltd. ("GUPC"), a Beijing company, to act as Vice President in
charge of overseas investment and mergers and acquisitions. Since
2009 Mr. Chang has served as GUPC's chief representative in Canada
and President and Managing Director of Great United Resources
Capital Inc. Mr. Chang serves as a director of Anterra Energy Inc.,
a TSXV-listed oil and gas company. Forward Looking Information and
Statements Certain information set forth in this news release may
contain forward-looking statements that involve substantial known
and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, certain
of which are beyond the control of Sahara, including, but not
limited to the impact of general economic conditions, industry
conditions, volatility of commodity prices, risks associated with
oil and gas activities, currency fluctuations, dependence upon
regulatory approvals, the availability of future financing and
exploration risk. Readers are cautioned that the assumptions used
in the preparation of such information, although considered
reasonable at the time of preparation, may prove to be imprecise
and, as such, undue reliance should not be placed on
forward-looking statements. Sahara does not undertake any
obligation to publicly update or revise any forward-looking
statements contained herein, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. Sahara Energy Ltd., Peter Boswell, Chairman and Chief
Executive Officer, (403) 232-1359, pete@saharaenergy.com,
www.saharaenergyltd.com
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